100 lakh crores will be invested in infrastructure- PM Modi in I-Day address

The government will invest a massive Rs 100 lakh crore on developing modern infrastructure, Prime Minister Narendra Modi announced on Thursday while addressing the nation on 73rd Independence Day and said that it will aid in nearly doubling the size of the Indian economy to USD 5 trillion in the next five years.

"India does not want incremental progress. We should take high leaps now, our thought process has to be expanded. We have to keep in mind global best practices and build good systems. Therefore, we have decided to invest Rs 100 lakh crore for infrastructure," he said.

Prime Minister Modi even said that there was positivity among people for years even if a decision was taken on paper to build a railway station in an area.

"Countrymen are anticipating development with such eagerness. Earlier, even if a decision was taken on paper that a railway station will be built in an area, there used to be positivity among people for years. Now people ask- when will Vande Bharat Express come to my area? People do not want only good railway stations or bus stations, they ask- when is a good airport coming? If we install an electricity tower, they ask when will we have 24-hour power?" the Prime Minister said.

While asserting that there is a need to accept that times are changing, Modi said, "Earlier the aspiration was to have a good mobile phone but now, people aspire better data speed. Times are changing and we have to accept that. Today, we must think about what we can do for the country," he added.

Prime Minister Narendra Modi also strived to improve boost exports and urged citizens to make local products attractive. "The time has come to think about how we can boost exports. Each district of India has so much to offer. Let us make local products attractive. May more export hubs emerge. Our guiding principle is Zero Defect, Zero Effect."

"Today, the Government in India is stable, the policy regime is predictable...the world is eager to explore trade with India. We are working to keep prices under check and increase development. The fundamentals of our economy are strong," he said.